I want to know what is maximum late fee is for FY2020-21 and 2021-22? Suppose i have turnover around 3cr in both year then what is maximum amount i need to pay. If possible please share circular number so that i can show it to my ca.

Is it 3cr * 0.5% in both year?

Dear Sir
We have received intimation for E invoice, in the intimation stating that 2017-18 shall issue e invoice tax payer with
aggregate turnover of Rs. 5 crores wef 01.8.23 on all B2B transaction. for the year 2023-24 whose turnover is exceeding 05 crores have to issue e invoice. so we little bit confusion but our turn over is not exceeding 05 crores hence please clarify the same.
Yours faithfully
Thanking you
Srinivasa Joshi

Respected Experts,
I have a confusion about ITC on CAPITAL GOODS. One of my client (newly registered under GST) purchased of New CNC machine. They make only taxable supplies & Services (like Job work) with chargeable 12% GST.
I will take that full ITC in the same month. But, Having confusion with this

In this scenario can we claim fully ITC of that purchased capital goods...?
or Here we calculate and take ITC proportionately...?

Please clarify my confusion with suitable details.

Respected Colleagues
If Person GST registration and having Export of IT services to foreign country in AY 2023-24 of Rs 25 Lakhs but now in AY 2024-25 Export of IT services to foreign country is only Rs 11 lakhs till march till date.

My query is GST registration is still mandatory to continue even below threshold limit of Rs 20 lakhs???
Or We eligible to cancel from immediate effect?

Received a SCN U/S.74 dt.14.12.2023 for FY 2017-18 disallowing ITC on purchase of cement and MS rods. Although cement and ms rods were sold by us and outpaid paid on the same. How to proceed into the matter ? Is the said SCN issued within limitation period ?

Dear Experts.

Pranam.
Small doubt.
One automobile dealer, also acting as broker for insurance services - covering / sourcing insurance for new vehicles & renewal services for a OEM.
As the GST number not updated in SAP, the automobile dealer paid GST amount under B2C category.
Is it possible to claim ITC.
What is the way available to automobile dealer to ask the OEM to repay ITC.
Requesting valuable guidance please.
Thanks in advance.

Capital Assets/ goods input is completely taken during the combined service and reversed within the next 60 months. Currently providing services that are fully taxable, so it's important to determine whether the capital input credit needs to be reversed throughout the reaming period.
Kindly give advice and suggestions regarding the right way of reversal input credit.

For example, capital assets purchased in 2018–2019, input took in full, and reversal credit in the next 60 months .we are offering combination services until FY 2022–2023 and completely taxable services starting in FY 2023–2024. Can we liable for input credit reversals for capital assets during the Remain period?

Thanks in advance for your valuable suggestion

Capital Assets/ goods input is completely taken during the combined service and reversed within the next 60 months. Currently providing services that are fully taxable, so it's important to determine whether the capital input credit needs to be reversed throughout the reaming period.
Kindly give advice and suggestions regarding the right way of reversal input credit.

For example, capital assets purchased in 2018–2019, input took in full, and reversal credit in the next 60 months .we are offering combination services until FY 2022–2023 and completely taxable services starting in FY 2023–2024. Can we liable for input credit reversals for capital assets during the Remain period?

Gster 1 Igst value this.(-) 2873234/- is received, how to claim it as input in 3b is not showing negative value in ITC

GSTR1 output - tax value IGSTR (-) 2873234/- its filed, But
GSTR3B
3.1 Details of Outward Supplies and inward supplies liable to reverse charge (other than those covered by Table 3.1.1) "Zero" value
how to get input

We have filed Annexure V for the FY 2023-24 with in due date and my query is we wish to continue under FCM for the coming FY 2024-25, so whether we need to file Annexure V again for the FY 2024-25. If yes We have tryed for FY 2024-25, But messgae shown as message shown as "Declaration in Annexure V has already been filed for the selected Financial Year 2024-25 on dated 18/05/2023 and is still active. Click on Download Annexure V button to download the declaration." But downloaded file is showing only FY 2023-24… Kindly advise me